Singapore's Mapletree wins land tender, adds Tsing Yi logistics site to Hong Kong assets
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Mapletree's unit Titanium 2 was the sole bidder for the 44,318-square-metre (477,000 sq ft) logistics site in Tsing Yi following a
tender that closed on Friday.
The 'positive market response' to the site, known as Tsing Yi Town Lot 202, 'clearly reflects the trade's continual confidence in Hong Kong's role as an international logistics hub', a spokesman for the Transport and Logistics Bureau said.
Three other logistics sites will be released 'in a timely manner, taking into consideration the market situation', he added.
Mapletree's real estate portfolio in Hong Kong includes an 11-storey grade-A logistics hub with a gross floor area of 120,550 square metres, also in Tsing Yi, and the
Festival Walk shopping centre in Kowloon Tong, which has a gross floor area of 112,297 square metres.
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The parcel can support a maximum gross floor area of 227,836 square metres for a multi-storey logistics facility and a public car park.
Wholly owned by Singapore investment firm Temasek Holdings, Mapletree paid HK$1.69 billion in 2013 for its first site in Tsing Yi, which was its first greenfield development in Hong Kong.
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